AstraZeneca plc (AZN) to Purchase MedImmune Inc. (MEDI)
AstraZeneca PLC said Monday it is buying U.S.-based biotech drugmaker MedImmune Inc. in a $15.6 billion deal that will allow the British company to enter the vaccines market.
AstraZeneca, which has been looking to strengthen its pipeline of future drugs as it faces patent challenges and escalating generic competition, will pay $58 a share for MedImmune, a 21 percent premium to the stock's close on Friday.
The deal, which AstraZeneca hopes to close in June, will increase the company's proportion of biotechnology drugs in its pipeline from 7 percent to 27 percent, and enlarge its total pipeline by 45 projects to 163 projects.
That includes two late-stage products being developed by MedImmune, which is based in Gaithersburg, Md. The company has more than 2,500 employees in facilities across the United States, Britain and the Netherlands.
AstraZeneca, which has been looking to strengthen its pipeline of future drugs as it faces patent challenges and escalating generic competition, will pay $58 a share for MedImmune, a 21 percent premium to the stock's close on Friday.
The deal, which AstraZeneca hopes to close in June, will increase the company's proportion of biotechnology drugs in its pipeline from 7 percent to 27 percent, and enlarge its total pipeline by 45 projects to 163 projects.
That includes two late-stage products being developed by MedImmune, which is based in Gaithersburg, Md. The company has more than 2,500 employees in facilities across the United States, Britain and the Netherlands.
Labels: AstraZeneca plc, AZN, MEDI, MedImmune Inc.
posted by Stock Administrator @ 11:49 AM
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